Digital Twins in Manufacturing: Producing Data, Not Just Finished Parts or Products

Sight Machine, a digital twin software provider, presents a number of use cases. According to Spend Matters, an industry research publication, Sight Machine offers “a ‘digital manufacturing platform’ that mirrors the manufacturing and production process (building a "digital twin") to provide enterprise manufacturing visibility across all plants and suppliers and analytics on top of the exposed data.

Illinois Burdens Manufacturers With Its Latest Get out of Debt Plan

Governing Illinois, where Surplus Record is located, is a thankless job. Perhaps that is why at the end of his term, J.B. Pritzker will have been the second billionaire in a row to attempt to do right by his state. And it won’t be easy.

Contractors and Freelancers Represent Both Opportunity and a Potential Compliance Risk for Manufacturers

Moreover, a whole ecosystem has emerged to serve the needs of temporary and contract workers which engage with these platforms. These providers, including MBO Partners, offer such services as independent contractor classification tests/attestations, insurance, background checks and additional vetting capabilities, making individual workers even more attractive to hire with a single click.

China’s Economic Slump: Yes, It Impacts U.S. Manufacturers

Despite the debate around trade deficits, IP transference and market economy considerations, China has become increasingly important from a top line perspective as well. And stagnation in segments of the Chinese economy have now impacted the top line of western manufacturers as well, creating a material impact on revenue and earnings.

Fake Manufacturing News: China Style

Fact check: U.S. producers (e.g., Nucor, Steel Dynamics, AK Steel, etc.) spend more than Chinese producers on R&D as a percentage of revenue. Moreover, the Chinese, as they have in other industries, have moved to copy U.S. innovations.

China Takes a Beating in Round 1 of the Trade War

China is losing the first salvo of the trade war with the US.  While no one – except perhaps President Trump himself – believes that trade wars are “easy” to win, the victor of round 1 appears hard to dispute.

Manufacturing Unemployment & Tactics for Employers

Based on our own research, we see three different strategies that industrial firms have taken to address the challenge of finding enough qualified workers.

2018 Tax Changes For Manufacturers: An End Of Year Look At All Of The New Options

For example, if an organization purchases a used 1000 ton press for $500K from a dealer in Surplus Record, they can immediately deduct that full amount from the top line of the business if they put the equipment into service during the calendar year.

Disruptive Times Call for New Approaches to Supply Chain Risk

While predicting Trump’s next tariff targets might be challenging – let alone which firms might end up on a sanctions list outside of trade battles – there are steps that all manufacturers can take to more effectively manage through the volatility.